Historic Silver Drop Sparks Fresh Concerns Over Market Manipulation
Silver futures plummeted 34% in 24 hours, the sharpest single-day decline on record, erasing $1.8 trillion in market value as prices collapsed from $110 to $74. The selloff followed an unprecedented rally that had pushed silver above $120 earlier this month, fueling speculation about potential market distortions.
Discrepancies between global exchanges intensified scrutiny, with COMEX silver trading at $92 while Shanghai prices hit $130—a 40% divergence. The U.S. paper-to-physical ratio now stands at an alarming 350:1, raising questions about systemic risks in precious metals markets.
Gold mirrored the turbulence, falling 11% to $4,700 after peaking above $5,500. The combined $3 trillion evaporation of value across both metals coincided with broader risk aversion, triggered partly by impending leadership changes at the Federal Reserve.
